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Head-to-head explainers of commonly-confused quant finance concepts. Each article picks a real decision a practitioner has to make and walks through how to make it.
Sharpe vs Sortino vs Calmar
Three risk-adjusted return metrics, three different things they measure. Which one to use when, and what good values look like.
Kelly vs Fixed Fractional vs Optimal-f
Three position sizing methods with wildly different aggressiveness. Why most people should use fixed-fractional, and the half-Kelly trick.
VaR vs CVaR vs Max Drawdown
Three downside risk metrics with very different blind spots. Where VaR lies, why CVaR fixes it, and why allocators care about drawdown most.
Black-Scholes vs Binomial Tree
Two canonical option pricing methods. When the closed-form formula is right, when binomial trees beat it on early exercise, and how many tree steps you actually need.
Hurst vs Autocorrelation vs Variance Ratio
Three tests for detecting trend or mean-reversion. One-number summary, lag-by-lag, formal hypothesis test. When to use each.